According to the transparency thesis, some conscious states are transparent or “diaphanous”. This thesis is often believed to be incompatible with an inner‐awareness account of phenomenal consciousness. In this article, I reject this incompatibility. Instead, I defend a compatibilist approach to transparency. To date, most attempts to do so require a rejection of strong transparency in favor of weak transparency. In this view, transparent states can be attended to by attending (in the right way) to the presented world: that is, (...) they are merely translucent. Here, I first argue that this understanding of transparency is too weak to qualify as a compatibilist view. Drawing on insights from Franz Brentano, I then describe a middle road between strong and weak transparency. The crucial idea is that, although transparent states cannot be attended to, they can be noticed (under suitable conditions). This view, I submit, allows supporters of inner awareness to commit themselves to a more interesting understanding of transparency—moderate transparency—that preserves the initial intuition underlying the transparency metaphor. (shrink)